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Gevorg
Gevorg lives in the village of Gandzani with his wife, retired parents, and two children. He is 35 years old.

Gevorg is running the agricultural business for the family. They own two dairy cows and 30 sheep. Gevorg sells milk and produces cheese, with the sheep milk for selling as well.

He is very hard-working and experienced farmer with a great desire to enlarge his farm and generate more income. He has requested credit to purchase an additional 30 sheep. He will produce more cheese with their milk and increase profits.

In the future, Gevorg plans to reinvest part of the income in his sheep-breeding business for its further development. The other part of the increased income will be used to improve the daily living conditions of the family

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.

Tags

About Georgia

  • $4,600
    Average annual income
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $3,700 helped Gevorg to purchase 30 more sheep and enlarge his farm.
50% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Sep 28, 2013
Listed
Nov 2, 2013
Currency Exchange Loss:
N/A